Expert: Risk managers must emphasize resilience, product value despite higher rates

Insurance rates for catastrophe-exposed property increased between 5% and 10% in the fourth quarter, according to an insurance broker's report. Insurance rates for non-catastrophe-exposed risks are projected to have remained unchanged in the first three months of 2012, while rates for catastrophe-exposed risks may have risen between 7.5% and 12.5% during the period, the report said. "What insurers offer ... is their own resilience," according to the insurance broker's CEO. "We suggest that risk managers and others in charge of risk mitigation and risk transfer may benefit by taking a similar view of your own work. That, ultimately, is your job as well: ensuring resilience," he added.

View Full Article in:

PropertyCasualty360 · Business Insurance (tiered subscription model)

Published in Brief: